Greater Phoenix Real Estate Market Update (Last 6 Months) 📊

The Arizona real estate market continues to show balance and steady activity, with both buyers and sellers finding opportunities across different price ranges. Here’s a breakdown of the latest trends in Phoenix, Mesa, Chandler, Gilbert, Tempe, Scottsdale, and surrounding communities.

1. Market Activity & Inventory

• Pending ratio: 16%, showing a steady pace of buyer activity relative to available listings.
• Months of supply: 4, indicating a balanced market neither strongly favoring buyers nor sellers.

2. Pricing Trends

• Average active list price: $707,159
• Average closed sale price: $593,863
• Sellers are achieving 97.9% of their final list price on average reflecting realistic pricing and limited negotiation room.

3. Days on Market (DOM)

• Average DOM (active listings): 92 days
• Average DOM (sold homes): 74 days

Well-priced homes are moving faster than the market average.

4. Segment Highlights

• $0–500k: The most active segment, with strong closings and a sale-to-list ratio of 95.1%.
• $500k–$1M: Competitive mid-range market with limited negotiation room.
• $1M+ Luxury: Longer DOM (116 days active, 83 days sold) and homes selling at 92.8% of list price giving buyers more leverage.

5. Advice for Buyers & Sellers

For Sellers: Pricing competitively is key. Expect little negotiation below $1M.
For Buyers: In the entry and mid-range markets, be prepared to move quickly on well-priced homes.
For Luxury Buyers: More inventory and longer timelines mean more negotiation opportunities.

👉 Want to explore the data yourself? Click here to view the full Greater Phoenix market update.

Bottom Line

The Greater Phoenix market is healthy and balanced. Whether you’re buying, selling, or investing, understanding how each price segment behaves can give you a clear advantage. With the right strategy, you can succeed in today’s market.

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Mesa, Phoenix, Scottsdale, Chandler, Gilbert, Tempe, Queen Creek, San Tan Valley, Maricopa, Casa Grande, Fountain Hills, Cave Creek, Anthem, Sun City, Glendale, Peoria, Surprise, Goodyear, Avondale, Buckeye, and more.